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, they can do things quickly, but they're just not there yet. chris? >> not there yet, story of congress. thank you, kelly. >> reporter: good to see you. >> with the hours ticking down, and as kelly said, no deal still done, the blame game, of course, is already under way. one thing is clear, the 112th congress wins the very dubious distinction of being the least productive congress in modern american history. i don't know if there's a ribbon of some sort for that. nbc's deputy political editor domenico montanaro is here with this morning's "first read." thank you for taking time and for crunching these numbers. let's go through the numbers that you guys in "first read," that let me put a plug in, i always read, got about bills and productivity in this congress. >> yeah, so, only 219 bills passed into law in this congress, the lowest number that we've seen. and you know, but the thing that you have to understand, i think there's a lot of republicans who don't necessarily think that that's a bad thing. they think shrinking the government, making the government do less are actually good th
that need to get done by the congress in this new session. thank you, admiral and robert. happy new year to you both. >> same to you. >> also making news venezuelan president chavez is said to be in delicate condition after cancer surgery. he has not been heard from since december 11th when he had a fourth surgery. the question whether he will be at his swearing in on january 10th is touching off a possible constitutional crisis in that country. >>> the body of the newtown shooter has been claimed for burial. a spokesman for adam lanza's father says peter claimed the body. there is no word on when that happened or if there will be a funeral. >>> meantime for 200 sandy hook elementary school students, parents, and faculty a touching and welcomed diversion. they were the honored guests of the new york giants at yesterday's game in new jersey. the giants and eagles players high fived the kids as they ran on to the field and then the group circled for the national anthem. >>> take this live look at times square in new york city. partiers are packing into the streets for tonight's ball drop a
a pay cut. if they want to start cutting everybody, how about congress taking a pay cut? thank you for taking my call. host: christian, your message to washington on this deadline day, about 9 1/2 hours before we reached the midline -- the midnight deadline. caller: i do not think we should now go over the fiscal cliff, and i do not think it is responsible whether you are republican or democrat. i think both parties should unite and work for all americans. it is not obama's fault he was handed a mass. he has done a great job with that. honestly, i was a republican at the time when i voted for him and have since changed to become a democrat. is not about the individual parties. it is about responsibility. if i am not responsible with my money, i pay. i have been recently disabled, and i have spent endless hours and days and weeks and months to try to get disability. and i am unable to get it. i am concerned about our veterans coming home, not having a job, concerned about children and grandchildren having no education so that they have to work so hard for what is already outrageous
bash, stay tuned or we'll stay tuned to you. thank you. >> thanks, don. >> congress has decided not to burn the midnight oil tonight. we've been seeing people leaving. dana has been watching them leave. the question now is there's one more day, tomorrow. is tomorrow going to bring any change? by the way, this has got to get through the senate, through the house. senator mitch mcconnell says interestingly, something must be done. >> the consequences of this are too high for the american people to be engaged in a political messaging campaign. i'm interested in getting a result here. i was here all day yesterday. as i kated, we submitted our latest proposal at 7:00 p.m. last night. we're willing to work with whoever, whoever can help. there's no single issue that remains an impossible sticking point. >> wow. wow. john avlon, mitch mcconnell was here all day yesterday, all day yesterday. they worked to try to get a deal. let me tell you, there are two parts to this thing, two parts to the fiscal cliff. the two biggest parts are, one, the sequester, which only came into existence bec
care. >> thank you. >>> coming up, there's nothing special about what's going on in congress. how did we get here? what's the incentive to break the stalemate? we crunch the numbers. they don't add up to anything good. >>> for more on what to expect to see from the fearless leaders today and going forward, we have senior congressional reporter from "the huffington post" michael shearer. >> thank you for having me, crystal. >> mike viqueira and luke russert were reporting and i've been thinking about do we have any idea what the house republican caucus is going to o do? >> they scuttled john boehner's plan. will they accept a deal for $400,000 for single people and $450,000 for couples? >> it is extremely difficult to do that. i talked to a couple of aides shortly after obama spoke and they actually were angry at the way the president presented the way things are coming. they actually thought that he was sort of sabotaging the thing by the gleeful almost presentation he gave with the applause when he talked about congress and the laughter. so it's going to be really hard for them to s
and especially to chairman hall for his tenure on the committee and his history making here in congress. i thank you. mr. speaker, i rise today in support of h.r. 6612, to honor two great pioneers in american err naughtics and space exploration. dr. hugh dryden and astronaut neil armstrong. some of us here today can remember the pride every american felt in the summer of 1969 when we heard neil armstrong utter those famous words, that's one small step for man, one giant leap for mankind, when he led the apollo 11 mission and landed on the moon. with this incredible trip, armstrong served as a test pilot for seven years at what is presently called the dryden flight research center in california. armstrong acquired thousands of hours of test flying mainly in experimental jets. he was also part of a team in the early 1960's who researched how to land on the moon using a lunar landing vehicle. after the success of apollo 11, armstrong became nasa's deputy associate director for err naughtics. under his leadership, they had one of their most far-reaching successes, fly by wire, a precursor to electro
. congratulations on your service in congress. wish awe happy new year. >> happy new year, thank you. adam: so we'll get the republican take from senator john barrasso just a lit later in the program. he is kook discussing right now with other members of the republican caucus in the senate. they're talking about all of this. obviously the final physical cliff deal affects everybody, every aspect of our money, the markets, the economy. some say no matter what the damage has been done. we have money panel with wisdom to help us get through all of this. scott martin, is also a spewed baker fan. kill holme, and stephen hayes, writer at weekly standard and fox news contributor. i want to start with kim. from a small business perspective, this deal to only tax people who make 400,000, the, does that spare small business that might look at their funds as a pass-through when it comes tax time or will this still be horrendous for them. >> it is horrendous and horrendous for myself and my action and those of us who have flow-down through s-corps. i certainly think they made some progress but, you know, obv
and some confidence. all right. we'll be watching. clarity. thank you, alison. appreciate it. if congress can't reach this deal by midnight, higher taxes is not the only concern for a lot of folks. many families may not have money many can youing in at all. nearly 2 million people are at risk of losing their long-term federal unemployment benefits as the new year begins. another 1 million workers are going to exhaust their 26 weeks of state unemployment benefits in the first quarter and are not going to be able to file for a federal extension. joining us now is the president of optimum capital management ryan mack. ryan, good to see you. first of all, a lot of people very worried here because we are talking about those who are really at risk, those who might not get their unemployment benefits. what kind of options do they have. >> essentially, these are a lot of individuals operating out of fear. we do a lot of work around the country talking to those collecting the checks and basic questions, am i going to be able to eat? am i going to be able to pay for housing and shelter? these are b
is vowing to find out. >> can the senate veteran help congress tumble to a deal on the last day? >> if we do go off the fiscal cliff, congress would be more likely to make a deal. members could claim they are cutting taxes. >> thank you. if america does fall off the fiscal cliff on the first of the year, maryland would be hit hard. hundreds of millions of dollars and tens of thousands of jobs lost. >> we have a lot of federal workers and businesses that rely on the federal government. many are watching the negotiations closely. if partisan politics prevail and they cannot reach a deal, americans in maryland will burden will -- will be burdened. legislativent of observances had a report about what the impact would be. if we fall off the fiscal cliff. maryland will lose $178 million in funding next year. economists say to make up for it, the state will have to make cuts. >> it will be a challenge to make the ends meet. >> the greater economic impact could be huge hit in sales and income revenue. the state would lose about $268 million in 2013 and another million in 2014. >> small business inno
, alan west, is a moron and thank god he's leaving congress. these people should apologize. a fake news sham organization should apologies to secretary clinton and her family. the woman is in serious medical shape and this is what they come up with? >> just -- >> she may be the president of the united states one day. what are they going to do then? >> two points, one, they should have never said it in the first place. she was very ill before she -- and fell as a result of her illness. second of all, republicans should just shut up about this. this is absolutely insane. the woman is ill. the only thing people should be saying is i hope she is well soon. >> think differently but say -- lie about it for god's sake. >> we have to stop saying something, thank you. >> happy new year. >> stay with us. as the clock continues to tick. sometimes what we suffer from is bigger than we think ... like the flu. with aches, fever and chills- the flu's a really big deal. so why treat it like it's a little cold? there's something that works differently than over-the-counter remedies. prescription tamiflu
. blumenauer: thank you, mr. speaker. congress is here on new year's eve with the people they love. themselves, the special interests and the policies of the past. the overhyped fiscal cliff may well be upon us and we will find $600 billion of deficit reduction with tax increases and spending cuts, and then there will be the howls that we're doing it too abruptly from the same people that demand the same system of expiring cuts and sequestration in the first place. make no mistake, there will be some real damage. we'll be squeezing some people who deserve far better. then we'll be scrambling to find the -- refine budget reductions in a way that makes sense. in the hours, days, weeks ahead, we'll get a semi balanced small agreement. very likely, struggling throughout the new congress with budget bluster, especially in the house, moving from crisis to deadline to showdown. it's ironic because it doesn't need to be this hard. we could use the pressure and revenue from expiring temporary tax cuts to enact tax reform to provide the money that a growing and aging population needs but do it in a simp
, are worried. >> thank you so much. >> my preference would have been to solve all the problems in the context of a larger agreement, a bigger deal, a grand bargain, whatever you want to call it works this congress, that was obviously a little too much to hope for at this time. it will have to be a matter shared sacrifice. at least as long as i'm president. i am going to be president if the next four years i hope. >> well, senator john mccain blasting president obama's comments on debt negotiations. the senator is joining us from the capitol. you said that the president was antagonizing congress? >>guest: well, you played the clip. that is the point when we are in sensitive and serious negotiations. you talked with byron about the sequestration issue, a matter of great concern. when the secretary of defense says if we do sequestration it will devastate our national security, our ability to defend the nation, and the president is going over there joking around and saying things that can be not conducive to sitting across the table and getting things accomplished. >> so, help us through the tech
many sticking points we were up against before. thank you so much. >> reporter: thanks. >> any deal from the 11th hour talks will be rushed through both chambers of congress. mike viqueira at capitol hill for us. is that possible at this point? >> reporter: it's possible. whether it's likely is an entirely different matter, t.j. it's interesting how the president approached this. in a holiday cheer, getting the crowd in to it. laughing with the people. not a bellicose president at all. however, if you look at what house aides are saying and members of congress reacting just in the few minutes since the president finished talking, it's on the republican side, i should say, not receiving his comments well at all and view it as an attempt by the president to jam them to create a sense of momentum that a deal is all but done but it is not all but done according to to some of them. there's an issue of sequestration. the argument from republicans and some democrats, t.j., well, hey, this was supposed to be the trigger. this is supposed to be the apocalyptic scenario to force us to finally
ceiling. that's a fight congress is going to have in january and february. >> nancy cordes thank you. more than $100 billion in required spending cuts would also kick in if there's no deal. at the white house, major garrett says the obama administration is getting ready for those across the board cuts. major, what exactly is the white house doing to prepare? >> reporter: good morning, norah and anthony. the obama administration is in the final stages of delivering layoff notices it will deliver to federal agencies across the government, this to comply with across the board spending cuts 6% to 7% that are required in the so-called fiscal cliff. agencies will decide which employees to lay off and when. as part of these preparations, the administration also has notices it will soon deliver to delay or cancel federal government contracts. as for negotiations themselves it is a bit of a team effort here at the white house. president obama is dealing directly and spoke frequently sunday with the senate majority leader harry reid while vice president joe biden spoke freque
limit debate kicks off. reporting live in washington, back to you. >> thank you very much. we appreciate it. >>> for his part, president obama has been trying to turn up the heat on congress, applying new pressure sunday in an interview with david gregory on "meet the press." nbc news white house correspondent kristin welker has details. >> reporter: on "meet the press," president obama continued his public campaign to pressure congress. >> if congress doesn't act, then everybody's taxes go up. and for the average family, that could mean a loss of $2,000 in income, and the whole economy could slow down at a time when the economy's actually starting to pick up. >> reporter: he again called on lawmakers to strike a deal or hold a vote on his plan which would raise tax rates on wealthy americans, a major sticking point for republicans. >> the way they're behaving is that their only priority is making sure that tax breaks for the wealthiest americans are protected. that seems to be their only overliove overriding theme. >> reporter: after the interview, republicans accused the president of a
congress. liz: rich edton, live from d.c., thank you so much. david: let's go down to bill greiner, mariner wealth adviser's cio, sandy lincoln is vmo global asset management u.s. chief market strategist, and larry shover live in the pits of the cme. larry, we mentioned housing when we came in. nobody saw a year ago housing taking off great guns the way it has. is there one area, maybe one sector that you would look at for 2013 to be the surprise takeoff stock or sector for 2013? >> yeah. for me it would be definitely financials. and it's just going to continue to go just like it did this past year, because i think we're all -- including the market -- completely underestimating the tailwinds that the recovering housing market's going to have. even like the median estimates for next year is housing's going to rise maybe 3 or 4%. that's wonderful for footballs. so that -- financials. so that's the area if you're not in, i would get in right away for 2013 even though it's already started to move and has moved the past six months. liz: okay, so you're saying double down on financials, but what
and down again. >> thank you, chris. >> when we come back, it was one of the most dysfunctional congress ever. certainly the most unpopular. you're watching msnbc. the place for politics. this reduced sodium soup says it may help lower cholesterol, how does it work? you just have to eat it as part of your heart healthy diet. step 1. eat the soup. all those veggies and beans, that's what may help lower your cholesterol and -- well that's easy [ male announcer ] progresso. you gotta taste this soup. >>> welcome back to msnbc's special coverage of the breaking news from washington. if you're just joining us, we can report that there will be no vote in the house tonight. there's no bill for the house to vote on. it's still another chapter in the story of the do-nothing 112th congress. over the past few years, the number of bills passed has actually gone down. 460 in the 110th, 383 in the 111th. in this current 112th congress, just 219 bills. the lowest since they've been keeping records. it is possible we could see no action in the house until john boehner has the speaker's gavel back in han
us. >> thank you. >> congress had well over a year to tackle this fiscal cliff. instead, we've come down now to the final eight hours before our nation takes a severe hit potentially to the economy. tyeah, its the galaxy note ii.re great. you can do two things at the same time. you can watch videos and text. or you could watch the earnings report and take notes, like we're supposed to. so... can i get it? yeah. okay either of you put together the earnings report yet? yes, me totally. what? why don't you tackle the next quarter. you eat yet? polynesian? pu pu platter? yup! keep up the good work. i will keep up the good work. do more with the new samsung galaxy note ii. [ dog barking ] ♪ [ female announcer ] life is full of little tests, but your basic paper towel can handle them. especially if that towel is bounty basic. the towel that's durable, and scrubbable. in this lab demo, bounty basic is stronger than the leading bargain brand. everyday life? bring it with bounty basic. the strong but affordable picker-upper... now costs even less. >>> we're following the breaking news. the
is a good one. > > very good. janet tavakoli. thanks so much. > > thank you. thank you, bill. still to come, how decisions on capitol hill impact your portfolio. how to make it work in your favor, next. how much does congress play into your portfolio? perhaps more than you think. eric singer is the author of the new book "trade the congressional effect." he shares the secrets behind his congressional fund. how does your fund work? > > i went back and looked at the stock market going back to 1965 day-by-day, and i found that on the 7900 days that congress is in session, the market went up less than 1% annually in price. and on the 4100 days they were on vacation, the market has gone up 16% in price. so i launched a mutual fund to mimic that, and that's the strategy of the fund. we only invest in the market on the days when congress is on vacation. > > that's interesting. your fund is up 2% for the year. what does that say about our lawmakers? > > it says that this year they're having a little bit better year than most years. but, while the fund invests on a day-to-day basis, it's really a lo
her very closely in the hospital. >> lots of questions, jon lapook. thank you. as we mentioned congress goes back to work to try to avoid the fiscal cliff. if there's no plan by moment and we go over, economists will predict we'll go back into recession. >> taxes would increase $2,400 a year. their social security taxes would also go up on average a thousand a year and some 2 million jobless americans stand to lose their federal unemployment benefits. in all, the congressinonal offie says an estimate third degree.4 million could be would jobs in 2013. >> reporter: senate leaders hoped to have an agreement by yesterday. they didn't. negotiators were here late last night and it does appear they're now much closer on that main issue which is the bush tax cuts and who gets to keep them. the question is whether the two sides can make it the rest of the way before tonight's deadline. senators filled the halls sunday hoping they'd have a deal to vote on, but just before 6:00 the senate leader sent them home. >> there's still significant difference between the two sides but negotiation
forecast for the week coming up. but let's get back and talk more about the redskins. >> all right. thank you. >>> we are taking a look at our other top stories. still no deal. this as congress and the white house now have less than 24 hours to come up with a solution to the looming fiscal cliff. the senate will meet again later on this morning to continue their talks following a rare marathon meeting yesterday. on meet the press, president obama called on lawmakers to reach an agreement. if no deal is made, it would be the large of the tax hike since world war ii. >>> secretary of state hillary clinton remains in a new york city hospital this morning after doctors discovered a blood clot stemming from a concussion she had earlier this month. now, a spokesperson for clinton says she is being treated with medication and will most likely stay in the hospital for the next 48 hours. the clot was discovered yesterday during a follow-up appointment. >>> same-sex couples in maryland will be able to marry tomorrow on new year's day. state lawyers said because january 1st is a holiday and because
some of your messages here. >> thank you, josh. >>> next we're going to go live to washington. is congress going to let this happen? are they really? next. [ nyquil bottle ] dude! [ female announcer ] tylenol® cold multi-symptom nighttime relieves nasal congestion. nyquil® cold and flu doesn't. >>> if we go over the fiscal cliff tomorrow night, congress could still pass a bill in a couple weeks. there's no guarantee they'll be able to come to an agreement quickly. ryan lizza is a correspondent for the new yorker. it's good to see you during the night. good to see you. >> thanks for having me. >> this uncertainty that americans are living with right now, do you think a deal can be reached by tomorrow? >> you know, i don't know. it's -- right now, as cnn's been reporting, it's up to mitch mcconnell and joe biden. those apparently are the two men where the entire negotiations have moved to. senator harry reid, who runs the senate, left tonight and told reporters on the way out, if you want to know if there's a deal, talk to biden and mcconnell. they have a history of reaching a
peel but congress has shown any willingness. >> christine, thank you very much. we'll get your perspective on the other side of the president's address. it's about 15 minutes away or so. he will speak at the white house addressing the american people essentially about the updates on the talks with republicans. it has been the vice president, vice president biden, and the republican senate minority leader mitch mcconnell who have been in negotiations and discussions. we'll see just how far they have gotten and whether or not there is something real that has been put on the table. we're going to have that as soon as it starts. it was just the last hour we heard from democratic senator mary landrieu. she wanted to weigh in as well about the gridlock in washington. here's what she said. >> the good news is i'm glad we're here the at work. we need to stay at work and get this done, and the negotiations seem to be moving in the right direction. >> coming up, we hear from the other side of the aisle, republican senator john barosso. he's going to be joining us live. tyeah, its the gal
, round two is in a couple of months when congress has to raise the debt ceiling to keep the country from default. trace? >>trace: thank you, wendell, from the white house. joining us now is columnist for the congressional newspaper "the hill." i have to go on what wendell says, if you are speaker boehner and you walk to the house of representatives members and say there is kind of a deal but no spending cuts. how does that fly? >>reporter: that is the problem. what you see are words of hope from the republican leader on the senate side how we are very close to what has to be fixed, the tax rates. he is trying to put a positive spin on that. we knew they would be fixed. the worry all along was, were we going to see a replacement for the draconian sequestration cuts everyone hated on both sides of the aisle for 17 months. here we are, in the final stretch, the 11th hour, surprise, both have given on the tax issue because neither could stand to go over the fiscal cliff, the tax cliff but that is giving of money, medicare fix, an alternative minimum tax patch, and more unemployment insurance
their work done. makes you so mad. it's not as if congress didn't know it's not coming, understandably people are frustrated as stuart varney said. >> thank you. >> and who is going to be blamed if washington doesn't make a deal on the fiscal cliff? we are going to debate that plus, france says no to high taxes on the rich. could the united states learn something from that? we'll analyze that when we come back. ♪ need not wonder why ♪ ♪ no tim ♪ ♪ you're a heartbreaker, dream maker ♪ >> welcome back to a sunday prime time edition of "the five." and as the clock ticks down and going over the so-called fiscal cliff. no deal he yet, but there is some finger pointing going on. >> i'm concerned about the lack of urgency here. i think we all know we're running out of time. this is far too much at stake for political gamesmanship. we need to protect the american families and businesses from this looming tax hike. everyone agrees that that option is necessary. >> i will say this, i think that the republican leader has shown absolutely good faith, but it's just that we're apart on some pr
benefits and tax credits for low-income and poor working families, the president thinks congress and more importantly the country can live with one day of cliff diving but not many more. >> major garrett, thank you. all of this uncertainty is not sitting well with business owners. it's tough to run a company when you have no idea what's going to happen in washington. lee cowan has that part of the story. >> reporter: joanne is running the numbers. her payroll is due this week. although she at least now has a hint of what taxes to withhold from her dozen employees, that's only half her worry. unresolved spending cuts are the other. >> it's very uncertain and very unnerving and very... causes a lot of anxiety and a lot of lack of sleep. >> reporter: she's the president of golden state magnetic and penetrant, a $2 million a year los angeles company that inspects, cleans and paints high-tech aircraft and aerospace parts. everything from fighter jets to mars rovers. any cuts in defense spending could mean cuts in her business too. and waiting has her on a fiscal cliff of her own. what does it
. thank you. thank you very much. gerri: fiscal stiffed. that is of americans feel after congress failed to reach a deal on taxes and spending. as a result we are going of the fiscal cliff. joining me now, former adviser to president george w. bush and doug shown, democratic strategist and fox news contributor. welcome to you both. >> thank you so much. gerri: am i surprised by what is happening? no. and my interest? no. and so of start with you. how would you grade the president's lead on this issue today? >> well, i'm not trying to give anyone a good mark, the president by and certainly not congress. i hope my colleague in the spirit of the new year would recognize that the entire political establishment has let us down. we are going to get at best that deal on taxes, not going to get anything to reform entitlements or spending. in my question to you, do you think republicans in the house should vote for this deal? gerri: wait a minute. before you go to that i want to mention, we should acknowledge your that there is still a possibility the senate will vote on these ideas that we have
close eye on congress to see if they can come up with anything. back to you guys. >> all right. thank you very much. checking some of our other top stories secretary of state hillary clinton remains in a new york city hospital after doctors discovered a blood clot stemming from a concussion she had. she is being treated with medication and will most likely stay in the hospital for the next 48 hours. the clot was discovered yesterday during a follow up appointment. >>> former president george h.w. bush also remains in the hospital this morning. his family says he's been moved out of intensive care. bush has been in the hospital in houston since last month for bronchitis and other complications. the 88-year-old is the oldest living former president. >> very happy new year for same sex couples in maryland. this after the state's attorney general says they will be able to marry on january 1st. state lawyers initially said that because january 1st is a holiday and a two day wait period before licenses take affect they could not marry until january 4th. all the licenses will take affect tom
this week. >> thanks, maria. here's what's making news as we are heading into a new week and new year on wall street. congress is working the weekend, attempting to avert some part of that $6 billion in automatic tax increases and the spending cuts that are set to kick in on january 1st. that fiscal cliff and its potential impact on our economy brought lawmakers from both houses to washington for last-minute negotiations. concerns about the cliff spooked investors, the holiday shortened trading week was lighter in volume but higher in volatility. the worst decline of the month on thursday after a disappointing read on consumer confidence and some statements by congressional leaders. and yet, with one final trading day to go, all the major averages were still showing positive performance for the year of 2012. meantime, the u.s. is set to reach the debt limit on monday. that, according to treasury secretary tim geithner in a letter to congress, though, he did say he expects to take what he called extraordinary measures to extend the government's borrowing ability for another two months
? >> thank you, steve. >>> the list of words for 2012 is out. the popular twitter acronym that's made the list. >>> and congress, running out of time to stop the u.s. economy from going over the fiscal cliff. jamie dupree is in washington, d.c. where new numbers are being tossed around this morning. [ laughter ] [ girl ] wow, you guys have it easy. i wish i had u-verse when i was your age. in my day, we didn't have these fancy wireless receivers. blah blah blah. if i had a sleepover, i couldn't just move the tv into the playroom. no. we had to watch movies in the den because that's where the tv outlet was. and if dad was snoring on the couch, we muscled through it. is she for real? your generation has it made. [ male announcer ] the wireless receiver only from at&t u-verse. get u-verse tv for $29 a month for six months. rethink possible. >>> stocks are mixed. they were found for a while. that would be down for the fifth day in a row. the five-day losing streak for the dow would be the longest since july. the dow you can see it's turned positive. it's up just slightly. the nasdaq is al
will be talking about this in the days to come. thanks all of you. next i'll ask what measures lawmakers are taking to avoid this manmade, this congress-made disaster. that over time, having high cholesterol and any of these risk factors can put them at increased risk for plaque buildup in their arteries. so it's even more important to lower their cholesterol, and that's why, when diet and exercise alone aren't enough, i prescribe crestor. in a clinical trial versus lipitor, crestor got more high-risk patients' bad cholesterol to a goal of under 100. [ female announcer ] crestor is not right for everyone. like people with liver disease or women who are nursing, pregnant or may become pregnant. tell your doctor about other medicines you're taking. call your doctor right away if you have muscle pain or weakness, feel unusually tired, have loss of appetite, upper belly pain, dark urine or yellowing of skin or eyes. these could be signs of rare but serious side effects. ♪ is your cholesterol at goal? talk to your doctor about crestor. [ female announcer ] if you can't afford your medicatio
today. >> thank you. >> congressman, you were one of the first gop members of congress to support raising tax rates on incomes over $250,000. that threshold we're talking about today. you said on "morning joe" today that deadlines are like alarm clocks so has washington heard this alarm and from what you know about the latest deal do you think it'll get done? >> first of all, i am not for raising rates and never have been but you have to recognize taxes are going up on every single american unless we act. i don't consider making sure that doesn't happen to 98% or 99% of the people a tax raise. quite the opposite it is a permanent tax cut for almost every american. yeah. look, i think the senate will eventually come to a deal. we may technically go over the cliff tonight but i think the thing will still be resolved in terms of taxes by the end of this congress. that is by the morning of january 3rd at the latest. then we move to the things that count and that is spending and entitlement reform. we have three big triggering events coming up. the sequestration itself, the end of the
mc-- alessia mccarthy, goodbye. >> next, we will hear from members of congress about negotiations regarding the fiscal cliff today. harry reid followed by johnson -- john thune. >> thank you. i was gratified to hear the cuts are off the table. they should never have been on the table to begin with. there is still significant difference between the two sides. negotiations continue. we intend to continue negotiations. we will come in at 11:00 a.m. tomorrow morning. we will have further announcements. i hope so. >> next, talking about the fiscal cliff. john thune. >> thank you for the update. midafternoon today, senator john thune spoke with reporters on where things stand on the fiscal cliff. >> where do things stand as far as a republican deal? >> republicans advanced a proposal last night and you heard senator mcconnell talk about it on the floor. we're still waiting for a counteroffer. there was an indication we would receive the by 10:00 this morning, but discussions still continue. senator mcconnell and vice president joe biden are continuing to discuss this and we think there
that had them using extra precaution. >>> congress continues to bicker hours to the fiscal cliff. we go live to . >>> good morning 5:29 on this monday the last one of 2012. thanks for waking up and joining us this early morning i'm kristen sze. >>> and i'm katie marzullo in for eric thomas. last night of 2012 if you are going to be out in the bay area probably a big coat, mike? >> definitely breast warmly, don't worry about any wet weather. good morning. as we look at live dopplerwq[ú, picking up dry air, also seeing high clouds put another halo around the moon earlier this morning, beautiful sight we've had several times over the last week. not fog forming but frost out there watch out for that during the morning hours. this afternoon under partly cloudy skies, upper 40s to low 50s mostly sunny bay and inland low to mid 50s how about traffic if there is any. >>> mass transit is what we can talk the most about, no delays across the board. there is no ace train today or tomorrow. muni on a saturday schedule today. all mass transit offering extended hours to get you home for new year's e
the clock and congress has to act and the president -- they have to figure out how to compromise or watch automatic headaches kick in. >> chuck todd is going -- it's going to be a long night. thanks for being with us on wall street today, this final trading day of the year. investors were hopeful of a deal would be work out by the time the closing bell rang at 4:00. stocks soared to their highest point today. the dow finished 166 points up, the nasdaq 59 points and the s&p 500 was up almost 2400 points on the day. for the year, the dow finished with a 7% gain. the nasdaq was up almost 16% this year and the s&p 500 gained more than 13%, a very strong year for stocks. so let's bring in cnbc's senior economics reporter steve liesman. steve, we just said the market was way up today, they thought we would have a deal. now we're headed over the cliff. this can't be good news for our economy. >> reporter: it definitely would not be. and if you take all the things that kelly mentioned and add them up, that's about a 4% hit to gross domestic product. we put that into perspective. we're only going
that are coming out initially, congress has commissioned a study to show that the emission of radiation is safe. you don't have to worry about it affecting your health as well as your dignity. >> lisa gill, thank you so much. >> traveling alone, too, all that space. >> go sit with her. >> lisa, thank you so much. >>> a look back at "today" in 2012. >> first this is "today" on nbc. i got to say it! >> you got one.t!w=!n >>> as we say good-bye to 2012, we want to take a look back at the fun we had on "today". >> happy new year, everyone. >> look out the window and you can see the people who are looking in at us. ♪ baby oh, baby you're the one ♪ >> i have to say, this is a very unusual way to start the show. there's no matt. but apparently he's on his way. >> so sorry. >> you are late, you know. >> the storm was coming. the waves on madison were huge. >> matt took savannah's blackberry, because she was trying to tweet with it. >> full fledge panic. >> it's in that drawer right below you. >> you have to do the weather, though. >> you're right, it is. >> i could be naked here. i'm naked here. i'
: the resolution will be received and properly referred. the senator from pennsylvania. mr. casey: thank you, mr. president. tonight as we -- today i should say as we confront a whole range of difficult issues at the end of this year and at the end of the congress, we should also be reminded that we have fighting men and women serving for us all around the world. we think especially tonight of those serving in afghanistan, and those who served part of that time in iraq. at various times we've come to the floor and recited the chaims of those who were killed -- names of those killed in action and tonight i'm i'm joined by my colleague, senator tom to read -- toomey who read the names of those who as lincoln said gave their last full measure of devotion to their country, those killed in action in afghanistan over parts of 2011 and 2012. i'll turn and yield the floor to my colleague, senator toomey. the presiding officer: the junior senator from pennsylvania. mr. toomey: thank you, mr. president. i'd like to thank my colleague, the senior senator from pennsylvania for organizing this brief tribute
some serious differences and not a lot of time left. congress has created its own deadline to this so-called fiscal cliff and now has to live by it over the next several hours to see if something can get done. erica? >> kelly o'donnell, thank you. chuck todd is nbc's political director. kelly mentioned some constructive movement but then there's this chasm we keep hearing about. is there a chance for a deal? >> i think -- i want to say yes, there's a chance for a deal! they're not that far apart. it really depends on the political motivations of the people at the negotiating table. you think about joe biden and mitch mcconnell, mitch mcconnell is totally looking at this through a political lens, what is in the best interest of republicans in his view? from what i understand in his view he thinks what's in the best interest of the republican party is getting the tax issue off the table and then having a big knockdown, drag-down fight with the president in six weeks over the debt ceiling. under that scenario, that would tell me, okay, he's likely to want to make a deal. when you look at
. we will see what president says in a few minutes' time here on "power lunch." thanks, josh. >> thank, sue. >>> a special report on fiscal cliff negotiations that is in addition to our coverage all day awning on cnbc and cnbc.com. simon? >> hundred efs thousands of jobs are waiting for congress to act over the next few hours. who is in trouble? more "power lunch" in two minutes plus of course president obama speaking in about 12. this is cnbc. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. sfls welcome back to "power lunch." one of the big barometers today on how the market feels about the ofds going over the fiscal cliff is the defense sector. the defense sector index tod
. president, welcome back to "meet the press." >> great to be here, thank you. >> the obvious question -- are we going over the fiscal cliff? >> well, i think we're going to find out in the next 48 hours what congress decides to do. but i think it's important for the american people to understand exactly what this fiscal cliff is. because it's actually not that complicated. the tax cuts that were introduced in 2001, 2003, 2010, those were extended and they're all about to expire at the end of the year. so on midnight, december 31st, if congress doesn't act, then everybody's taxes go up. and for the average family, that could mean a loss of $2,000 in income. for the entire economy, that means consumers have a lot less money to make purchases, which means businesses are going to have a lot less customers, which means that they're less likely to hire and the whole economy could slow down at a time when the economy is starting to pick up and we're seeing signs of recovery in housing and employment numbers improving. so what congress needs to do first and foremost, is to prevent taxes from
to be here, thank you. >> the obvious question -- are we going over the fiscal cliff? >> well, i think we're going to find out in the next 48 hours what congress decides to do. but i think it's important for the american people to understand exactly what this fiscal cliff is. because it's actually not that complicated. the tax cuts that were introduced in 2001, 2003, 2010, those were extended and they're all about to expire at the end of the year. so on midnight, december 31st, if congress doesn't act, then everybody's taxes go up. and for the average family, that could mean a loss of $2,000 in income. for the entire economy, that means consumers have a lot less money to make purchases, which means businesses are going to have a lot less customers, which means that they're less likely to hire and the whole economy could slow down at a time when the economy is starting to pick up and we're seeing signs of recovery in housing and employment numbers improving. so what congress needs to do first and foremost, is to prevent taxes from going up for the vast majority of americans. and this was a
, you had congress coming back in a lame-duck session, adding an additional $1 trillion in a week. >> absolutely. and both sides went along with it. >> all right. dr. sachs, thanks. you all right there? joe, thank you. go back to work. i'm sorry to interrupt the project there. >> actually, i've got to go out and talk to my people. >> clutching the debt clock in the fetal position. >> give me the sunscreen, please. >> don't miss a spot. >>> president obama says he offered up to $1 trillion in spending cuts to get a fiscal cliff deal done. but now republicans are asking from where? we're going to talk to republican senator bob corker next on "morning joe." i've always had to keep my eye on her... but, i didn't always watch out for myself. with so much noise about health care... i tuned it all out. with unitedhealthcare, i get information that matters... my individual health profile. not random statistics. they even reward me for addressing my health risks. so i'm doing fine... but she's still going to give me a heart attack. we're more than 78,000 people looking out for more than 70
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